Energy as a Service Market 2021 : Key drivers, opportunities and challenges

The growth of the global energy as a service market is driven by increase in renewable energy generation, and rise in energy efficiency activities.

Key drivers of global energy as a service market

The global energy as a service market growth is driven by increase in renewable energy generation, and rise in energy efficiency activities. In addition, rise in demand for energy is a key driver of the global market. Moreover, rise in effort by building owners to reduce the energy cost of the buildings serves as the major driver of the market. Furthermore, certain factors contributing toward the growth of the global energy demand include rise in renewable energy adoption, and increase in smart grid installations. Rapid advancement such as artificial intelligence & data mining and improvement of energy demand responsiveness in both commercial and residential sectors in developed regions significantly boost the overall growth of the market.

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Market scenario: opportunities and challenges

Organizations are seeking for sustainable energy sources, which is anticipated to serve as a lucrative opportunity for the expansion of the market. Furthermore, factors such as development of the transportation sector by electrification, including the adoption of electric vehicle, increase in emphasis on sustainable energy, and rise in acceptance of distributed energy resources (DER) augment the growth of the global energy as a service (EaaS) industry. Moreover, advancement in integrated distributed energy resource (IDER) utilizing data analytics and artificial intelligence in energy as a service (EaaS) industry are expected to create new avenues for the market growth. However, lack of skilled expertise and high development costs to upgrade the existing grid infrastructure are some of the factors that hamper the growth of the energy as a service (EaaS) market during the forecast period.

Top Key Players in the global energy as a service market are:

• Duke Energy (U.S.)
• EDF Energy (UK)
• Edison International (U.S.)
• Engie (France)
• Southern Company (U.S.)
• Schneider Electric SE (France)
• General Electric (U.S.)
• Siemens AG (Germany)
• WGL Energy (US)
• Orsted (Denmark)

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Key benefits of the report

This study presents the analytical depiction of the global energy as a service (EaaS) industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global energy as a service (EaaS) market share.
The current market is quantitatively analyzed from 2019 to 2027 to highlight the global energy as a service (EaaS) market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

COVID-19 scenario analysis

Global energy as a service (EaaS) market is expected to witness slowdown during the forecast period, owing to the outbreak of the COVID-19 pandemic. Alarming increase in the cases of COVID-19 worldwide has had an adverse impact on the energy industry with manufacturing facilities temporarily shut, leading to a significant slowdown in the production. In addition, the outbreak resulted in disruption across the ecosystem with several supply chain participants shifting their production facilities outside China. Lockdown imposed by the governments has not only affected manufacturing but also declined consumer demand energy as a service.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Source: EIN Presswire